Puneet Arora

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THE GAZETTE OF INDIA
EXTRAORDINARY
PART III – SECTION 4
PUBLISHED BY AUTHORITY
NEW DELHI, APRIL 13, 2010
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai,13th April, 2010
Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2010
No. LAD-NRO/GN/2010-11/07/1100. In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, namely:1. (i) These regulations may be called the Securities and Exchange Board of India (Venture Capital Funds) (Amendment) Regulations, 2010.

(ii) These regulations shall come into force on the date of their publication in the Official Gazette.
2. In the Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, – (i)

after regulation 12, the following regulation shall be inserted, namely:“Investment in securities listed on SME exchange. 12A. The venture capital fund may enter into an agreement with merchant banker to subscribe to the unsubscribed portion of the issue or to receive or deliver securities in the process of market making under Chapter XA of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the provisions of regulation 12 shall not apply in case of acquisition or sale of securities pursuant to such subscription or market making.”

C. B. BHAVE
CHAIRMAN

Footnotes
(1) The Securities and Exchange Board of India (Venture Capital Funds) Regulations, 1996, the Principal Regulations were published in the Gazette of India on December 4, 1996 vide S.O. 850(E).
(2) The Regulations were subsequently amended:
Page 1 of 2

(a) On January 5, 1998 by the SEBI (Venture Capital Funds) (Amendment) Regulations, 1998 vide S.O.19 (E).
(b) On November 17, 1999 by the SEBI (Venture Capital Funds)...
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